2. Estimate Uncollectible Accounts for Accounts Receivable Using Aging Method (38 marks) EL-26 At December 31, 2020. before any year-end zzjustments, the Accounts Recevable balance of Sunset Hills Clinie is 5235,000, allowance for Uncollectible Accounts has a 56.500 credit balance. Sunet Hills prepares the following asing schedule for accounts receivable: Age of Accounts Total Balance 0-30 Days 31-60 Days Over 90 Days $235.000 $110,000 S60,000 550.000 1.05 40% $15,000 Estimated uncollectible Requirements: 1. Based on the aging-of-receivables method, is the unadjusted balance of the allowance account adequate? 2. Make the entry required by the aging schedule; show your calculation. 3. Show how Sunset Hills Clinic will report Accounts Receivable on its December 31 balance sheet. 0-30 days 31-60 days 61-90 days Over 90 days Total Receivables $110,000 $60,000 $50,000 $15,000 $235,000 Estimated 0.5% 1% 6% 40% Allowance balance Compared to the current balance of $6,500, is it sufficient? DATE ACCOUNTS DEBIT CREDIT uncollectible Calculation: BALANCE SHEET